NBCC posts Rs 77.41 crore profit in April-June quarter

NBCC Ltd., a state-owned enterprise, has marked a significant financial turnaround by reporting a consolidated net profit of Rs 77.41 crore in the initial quarter of the current fiscal year. This performance stands in stark contrast to the net loss of Rs 4.84 crore incurred during the same period in the previous year.

A pivotal contributor to this positive trajectory is the notable increase in total income. The company's total income surged to Rs 1,965.80 crore in the April-June quarter of the 2023-24 financial year, compared to Rs 1,853.24 crore recorded during the corresponding period in the prior year. This commendable growth in income reflects the company's adept strategies and its ability to capitalize on market opportunities.

Primarily engaged in project management consultancy (PMC) and real estate ventures, NBCC has indicated a strong revenue distribution focus. According to a statement released by the company, a substantial 94.6 per cent of its business revenue is attributed to the PMC segment and redevelopment initiatives. This underscores NBCC's proficiency and success in these sectors.

The company's turnaround from a net loss to a robust net profit underscores its resilience and strategic initiatives. This remarkable financial performance could be indicative of NBCC's effective management, operational efficiency, and potentially favorable market conditions.